Los Angeles Capital Management LLC Reduces Position in United Rentals, Inc. (NYSE:URI)

Los Angeles Capital Management LLC lowered its stake in United Rentals, Inc. (NYSE:URI) by 46.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,649 shares of the construction company’s stock after selling 4,056 shares during the period. Los Angeles Capital Management LLC’s holdings in United Rentals were worth $3,275,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after buying an additional 105,287 shares during the period. FMR LLC boosted its holdings in shares of United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after acquiring an additional 85,325 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of United Rentals by 10.5% in the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after acquiring an additional 66,957 shares during the period. Franklin Resources Inc. raised its holdings in shares of United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after purchasing an additional 57,002 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its position in United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after purchasing an additional 54,750 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO William E. Grace sold 1,100 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This represents a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup cut their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a report on Tuesday, January 14th. Morgan Stanley dropped their price objective on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $829.00.

United Rentals Stock Performance

NYSE:URI opened at $633.65 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The stock has a market capitalization of $41.38 billion, a PE ratio of 16.35, a P/E/G ratio of 1.43 and a beta of 1.68. United Rentals, Inc. has a fifty-two week low of $596.48 and a fifty-two week high of $896.98. The company has a fifty day moving average of $723.03 and a two-hundred day moving average of $768.06.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. As a group, research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is 18.48%.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.